HRA Resolution 1987-2HRA
RESOLUTION 87- 2
A RESOLUTION APPROVING A TAX INCREMENT
FINANCE DISTRICT AND FINANCE PLAN AND
REQUESTING THE CITY COUNCIL OF THE CITY
OF MONTICELLO TO SET A PUBLIC HEARING
WHEREAS, iie Housirig and Redevelopment Authority in and for
the City of Monticello (the "Authority ") is carrying out the Monticello
Redevelopment Project (the "Project ") and Redevelopment Plan (the
"Plan "), pursuant to the approval of the City Council of the City
of Monticello (the "City "); and
WHEREAS, NAWCO Minnesota, Inc., has proposed development of
a 28,400 square foot office /manufacturing building on Lots 11 and 12
of Block 2, Oakwood Industrial Park; and
WHEREAS, said parcel is situated in the Redevelopment Project
Area; and
WHEREAS, said parcel is found to be unaffordable without the
said financial aid to be sought; and
WHEREAS, the Authority recommends that the NAWCO Minnesota, Inc.,
Project be undertaken as rapidly as possible and be financed with
local funds including tax increment financing as authorized by Minnesota
Statutes, Sections 273.71 through 273078; and
WHEREAS, there was presented to this meeting of the governing
body of the Authority for its consideration and approval a copy of
a tax increment finance entitled Tax Increment Redevelopment District #7;
and
NOW, THEREFORE, BE IT RESOLVED by the governing body of the
Housing and Redevelopment Authority in and for the City of Monticello:
1. That the project described in said Tax Increment Finance
Redevelopment Plan No. 7 contains blighted and deteriorated
or deteriorating areas as defined in the Minnesota Municipal
Housing and Redevelopment Act, Minnesota Statutes,
Section 4620421, Subdivision 13, and requires public assistance
in order to eliminate said blighted, deteriorating and economically
obsolete areas.
26 The said Plan and Project will carry out the purpose and
policy of the Municipal Housing and Redevelopment Act of
the State of Minnesota, Minnesota Statutes, Section 462.415
to 462.711 as set forth in Section 462.415.
3. The said Tax Increment Redevelopment District and Tax Increment
Finance Plan hereby in all respects approved and the Secretary
is hereby directed to file said Redevelopment Plan with
the Minutes of this meeting.
HRA
Resolution 87- 2
Page 2
4. Application is hereby made to the City Council of the City
of Monticello, the governing body of the City in which said
project is located, for the approval of said Plan and project
area, and the staff of this Authority is authorized to transmit
said Plan to said City Council, together with a copy of
this Resolution, a plan for financing the project including
the adoption of the tax increment financing plan and to
take such other action as the said staff may deem necessary
and advisable in order to secure from said City Council
its approval of said Plan and project. Said City Council
is hereby requested to hold a public hearing on said Tax
Increment Finance Redevelopment Plan No. 7 after giving
published notice of the date, time, place, and purpose of
such hearing in a newspaper of general circulation in the
City of Monticello, such notice to be published at least
ten days and no more than 30 days prior to the date of the
hearing.
Said City Council is hereby requested to approve said Plan
and to find by Resolution that: (1) the land in the project
area would not be available for redevelopment without the
financial aid to be sought; (2) the plan for the redevelopment
district in the locality will afford maximum opportunity,
consistent with the sound needs of the locality as a whole,
for the development of such areas by private enterprise;
and (3) the tax increment redevelopment district and tax
increment financing plan conforms to a general plan for
the development of the locality as a whole, and (4) that
the project will result in increased employment in the municipality
and will result in the preservation and enhancement of the
tax base of the municipality.
Said staff is hereby authorized and directed to transmit
to the State Department of Energy and Economic Development,
Office of Local Government, certified copies of this Resolution,
of said Plan, and other papers and documents described or
referred to in Minnesota Statutes, Section 462.445, Subdivision 8
of said Municipal Housing and Redevelopment Act.
Adopted this 3rd day of April, 1987.
L well Schrupp
Chair, HRA
ATTEST:
Olive M. Koropchak -,
Director of Economic Development